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SC Media Centre - All Pakistan Business Forum

All Pakistan
Business Forum lauds removal of non-tariff trade-barriers with
Iran This initiative will lead to further talks on a ‘Free-trade
Agreement’

Karachi: April 5, 2016 – As
Pakistan and Iran have recently decided to remove the Non-Tariff
barriers in bilateral trade and begin talks on a Free Trade
Agreement (FTA), the ‘All Pakistan Business Forum’ (APBF) has
expressed its appreciation for this valuable initiative. These
deliberations are aimed at strengthening the business relations
and optimize the trade potential between the two friendly
countries, through facilitation at the borders.

Both the neighboring states have also agreed to work on issuing
long-term multiple-entry visas to businessmen and increasing
direct air flights to boost the trade prospects, especially
encouraging the trade of perishable items.

Pakistan’s Minister of Commerce Engr. Khurram Dastgir Khan and
Iranian Minister of Mining, Trade and Industry Engr. M Reza
Nematzadeh held a meeting and addressed the trade and investment
session of the “Pak-Iran Joint Business Forum”. The two
ministers termed the signing of 5-year Strategic Trade
Cooperation Plan (2016-2021) as the beginning of a new era,
which provides a great opportunity for the two nations to
enhance economic cooperation to new heights.

Khurram Dastgir stated that; The proposed measures also include;
Beginning of negotiations on a Free Trade Agreement, holding of
single country exhibitions in each other’s country, visits of
delegations, regular meetings of committees for Joint Border
Trade, reactivation of Joint Business Council, opening of
additional international border crossing points and
establishment of border markets. Various fresh avenues will be
explored to enhance bilateral trade to $5 billion in five years.

Nematzadeh informed the audience that; “Iran will hold a trade
and investment exhibition in Pakistan in September 2016. The
private sector of both countries should take the lead in
strengthening bilateral relations in all sectors, including;
Agriculture, engineering and the minerals sectors that offer
tremendous scope. Export of services such as transportation,
financial, communication, insurance and IT also promise great
mutual benefits. Iran desires to participate in the
privatization programme of Pakistan by investing in the
entities, where Iran can offer its special expertise.

Majority of the issues of the traders will be resolved with the
implementation of TIR Convention, to which Pakistan has recently
acceded. Iran has also offered facilitation in Pakistan’s
transit trade, through Iran, to the Central Asian Republics and
Russia, where the demand for Pakistani food and agricultural
products is consistently increasing.

The President of APBF – Mr. Ibrahim Quraishi, welcomed the
signing of MoU on Five-Year Strategic Trade Cooperation Plan
between Pakistan and Iran, and stated that; “Despite huge trade
potential, Pak-Iran bilateral trade has remained low, because
the non-tariff barriers were quite high. Iran used to have heavy
customs duty on products of Pakistan’s interest like textiles.
The import processes were complicated, there was a lack of
enabling infrastructure, like; poor rail, road and air links. It
is heartening to see a robust initiative with a progressive and
friendly country like Iran. APBF is consistently striving to
enhance Pakistan’s portfolio of exports.”

The All Pakistan Business Forum (APBF) is a vibrant business
association which promotes and protects the interests of the
business community and a wide range of industries in Pakistan.
It also advises reforms to the Government sector, regarding
policy formulation, regulatory realignments and implementation
in the commercial and industrial sectors of the economy. Over
the years, APBF has been consistently playing a positive role in
elevating the standards and facilitation of business activity in
Pakistan.

All Pakistan Business Forum’
hosts Italian Ambassador and delegates for Industry visits and
B2B meetings

Karachi: March 21, 2016 –
The All Pakistan Business Forum (APBF) recently held a meeting
with the Italian Ambassador accompanied with Italian business
delegation, to discuss ways to promote & diversify trade
relations between the two friendly countries. The Italian
Ambassador to Pakistan H.E Stefano Pontecorvo along with the
Delegates also went for a tour of the Sunder Industrial Estate (SIE).
The Italian delegation was informed that; despite several
challenges, the economy of Pakistan offers tremendous business
opportunities for foreign investors and progressive
entrepreneurs. As the country’s economic indicators continue to
improve, many international investors are already showing great
interest in the various industrial sectors of Pakistan.

Besides the Italian Ambassador – Mr. Stefano Pontecorvo and the
First Secretary – Ms. Elena Claudia, the business delegation
from Italy comprised of; Dr David Dominate - Secretary General
of AICE, Mr. Pierantonio Cantoni - International Business
Promotion AICE and Fres-Co - General Manager of Packaging System
at Tianjm Co Ltd. The AICE delegation represented the pioneering
business association in Italy, spanning all commercial and
industrial sectors, and showing interest in partnerships in
Pakistan’s Pharmaceutical, Machinery, Fertilizer, Traditional
commodities and many other sectors.

The Italian delegation appreciated the robust business
opportunities available in Pakistan and discussed various
aspects in detail. Later they also visited the Tetra Pack
Plants, CHT (Pvt) Ltd, Ali Corporation and Tepo Corporation
(HOIST) manufacturing facilities, where they appreciated the
Quality Standards and Health & Safety arrangements. The Italians
Delegation invited the APBF members to visit Italy, where they
can have direct interactions with the Italian business community
and find opportunities of bilateral trade

The President of APBF – Mr. Ibrahim Quraishi highlighted the
numerous opportunities for boosting investments, enabling
technological collaborations and providing market-access, to
derive mutual benefits for both countries. He thanked the
President of Sunder Industrial Estate - Haroon Arshad and other
officials for their warm welcome and the insightful tour, which
also provided valuable information on the Punjab Industrial
Estate, the Government’s initiatives and the incentives
regarding investment.

The Italian Ambassador stated that; An MOU has already been
signed between Italian Embessey in Pakistan and APBF to increase
trade and setup B2B meetings for Joint ventures. APBF will be
part of Pakistani delegation that will be making a “Country
Presentation” in Italy on 5th of April in the presence of the
Italian Foreign Minister and the Pakistani Commerce Minister.
President APBF Ibrahim Qureshi will also be presenting at the
conference the opportunities that exist between the a Private
sector of two countries for joint ventures.

The president of APBF - Ibrahim Qureshi appreciated these
efforts and said that; “Our goal is simple; “Inspiring business
leaders to help build a prosperous Pakistan”. The Italian
Ambassador has taken exemplary initiatives and we greatly
appreciate his sincere efforts.”

APBF is a vibrant business association, with high-profiled
participation from many dynamic enterprises, associations and
institutions. It is working with the government of Pakistan to
identify and engage the most suitable and credible,
international partners for rapid development in the country.
APBF seeks to ensure that these collaborations should provide
the right mix of financial resources and technological
expertise. It promotes and protects the interests of the
business community and industry, besides playing an advisory
role for the government of Pakistan, regarding policy
formulation, regulatory realignments and implementation in the
commercial and industrial sectors. APBF has been consistently
inspiring the business community to play a key role in national
development, by elevating the performance standards and
facilitating robust business activities.